PALMOILMAGAZINE, JAKARTA – The recent tender for Crude Palm Oil (CPO) at PT. Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom on Wednesday (8/5/2024) stood at Rp 12.155/kg, marking a reduction of Rp 27/kg or approximately 0.22% compared to Tuesday’s (7/5/2024) tender, which was Rp 12.182/kg.
According to information obtained by Palmoilmagazine.com from KPBN, the price of CPO Franco in Belawan and Dumai was Rp 12.155/kg. In Teluk Bayur, it was Rp 12.025/kg. Meanwhile, in Kembayan, it was priced at Rp 11.805/kg but was withdrawn (WD) with the highest bid recorded at Rp 6.500/kg. Additionally, Crude Palm Kernel Oil (CPKO) in Lampung was priced at Rp 15.548/kg, but with a withdrawal (WD) seeing the highest bid at Rp 7.350/kg.
On Wednesday (8/5/2024), the CPO price at the Malaysia Derivatives Exchange experienced its third consecutive increase, contrasting with other vegetable oils at Dalian, which also saw increases due to the depreciation of the ringgit against the US dollar, thereby supporting the CPO price.
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According to Reuters, the CPO reference contract for July 2024 delivery at the Malaysia Derivatives Exchange increased by RM 24 per ton or approximately 0.61%, reaching RM 3,954 (US$ 833.56) per metric ton. Interestingly, it experienced a decrease of 0.15% overnight.
Meanwhile, the soyoil contract price at Dalian increased by 0.64%, while the CPO contract price rose by 1.09%. However, at the Chicago Board of Trade, the soyoil price decreased by 0.65%, attributed to profit-taking activities by many traders.
Here are tenders at KPBN (Rp./Kg), excluded income tax on Wednesday (8/5/2024):
CPO:
- Franco Belawan and Dumai Rp. 12.155-PPI, PII
- Teluk Bayur Rp. 12.025-WNI
- Kembayan Rp. 11.805 (WD) with the bid Rp. 6.500-DKDS, SDS, BBF
CPKO: Lampung Rp. 15.548 (WD) with the highest bid Rp. 7.350-SIP. (T2)
